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Financial Crime Compliance aligns current activities within Global Risk and helps to build these into a more integrated framework to conduct Customer Due Diligence which enables HSBC to manage financial crime risk more effectively. It builds stronger controls to improve the way Financial Crime Compliance risks are managed in order to spot gaps as well as trends so that the team can take action. It proactively gathers and analyses financial intelligence in a smart way so that suspicious transactions, activities or connections can be identified, and we can adequately protect our customers from the threat of financial crime.
We are currently seeking an ambitious individual to join our Financial Crime Compliance team, working together with colleagues to define, manage and achieve divisional business targets.
Role Purpose:The Job holder supports Senior Management in meeting their regulatory obligations by providing an active support in the implementation of Sanctions policy in compliance with the UAE Central Bank regulations and Group’s Global Policies and Principles and international standards.
The jobholder assists the Head of Sanctions to; identify and contain Sanction compliance risks, foster a compliance culture in the Bank, optimise relations with the Regulators, protect the reputation of the Group and comply with applicable Group policies and standards and local laws and regulations in order to prevent financial crime related to Sanctions.
In the execution of Sanctions duties, the job holder must independently handle the tasks assigned to him/her and be able to take decisions on matters within their designated authority. The job holder must be able to independently analyze and critically evaluate the responses received without much supervision and escalate as appropriate.
The person will be responsible for the providing Sanctions guidance relating to their assigned area of responsibility to the relevant business areas and Functions/wider Compliance teams within UAE entity.
Duties & Responsibilities Support Compliance and Business Management in meeting HSBC’s regulatory and Group requirements on Sanctions risk by:• Support the implementation of Global and Country Sanctions policies and Operating Procedural requirements in the UAE.• Reviewing any new/amended material laws, rules and regulations and Group Policies, assess their applicability to the business areas and guide the business accordingly ensuring all appropriate processes and procedures are amended to comply.• Providing guidance and direction to RMs/Front line, BFCRs etc. on the application and implementation of policies and procedures applicable to customers, products and transactions. • Assisting Head of Sanctions, UAE and the MLRO in their responsibility for complying with all relevant Laws, Rules, Regulations and Group policies related to Sanctions. • Where required prepare and or provide input on regulatory filings and correspond with regulatory agencies as agreed with the Senior Manager and MLRO• Provide guidance to business areas on sanctions risk and exposure related to customer account opening and transactional activity in more complex situations.• Provide inputs/support with regulatory submissions, regulatory and Audit/Assurance reviews.• Provide guidance to regional project teams and compliance representation on any sanctions related change initiatives for UAE.• Support Head of Sanctions on Country Compliance reviews• Raise exceptions through reporting system and make decisions on reporting to senior management. Ensure a review of all cases on a monthly basis and provide updates where necessary or close cases where action completed. • Support efforts to proactively drive the process or control improvements to support sanctions compliance.• Immediately escalate to Head of Sanctions as applicable, any material breaches or potential breaches of Laws, Rules, and Regulations